As if the deteriorating economy wasn’t painful enough, one of the biggest car makers in Pakistan has announced massive price hikes for certain Corolla and Hilux models.
The new price hike bomb was dropped via notification by Toyota, with the company blaming increasing manufacturing costs thanks to the increasing USD exchange rate and “increase in utilities and overheads”.
Here are the new prices for the cars affected by the hike:
| Model | Old Price | New Price | Price Difference |
| Corolla 1.6 CVT | Rs. 4,789,000 | Rs. 4,979,000 | Rs. 190,000 |
| Corolla 1.6 CVT Special Edition | Rs. 5,279,000 | Rs. 5,479,000 | Rs. 200,000 |
| Hilux | Rs. 8,449,000 | Rs. 9,069,000 | Rs. 620,000 |
| Hilux Revo G 2.8 | Rs 9,169,000 | Rs. 9,839,000 | Rs. 670,000 |
| Hilux Revo G 2.8 Automatic | Rs. 9,609,000 | Rs. 10,309,000 | Rs. 700,000 |
Toyota has increased car prices by 32-37% since January 2022 for its cars across the board. This new price hike on top of that throws aspiring Toyota customers out of the frying pan into the fire.
However, do note that despite the increasing car prices, the companies aren’t doing all that well financially. Toyota reported a huge 76% decline in profits during Q1 FY 2023, mostly due to import restrictions imposed by the State Bank of Pakistan to reduce the burden on the economy.
Will other automakers follow suit and increase prices as well? It’s very likely and we’ll know for sure in the next few weeks.
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Still less, hike it to double, cars already out of reach of common citizens and elites don’t like local substandard less feature cars already. No one cares now.
It’s true did he make any thing extra features nothing peepa type poor quality compared with India they goot materials frome gold might be that’s why every time they hike the price
Chill bro, because there is no authority no one can ask them anything, they can do anything they want. This is a banana state.
Good it means my used car will sell better
Toyota compeny. Cars every.3.2month price incrice.this very bed.
Our trade is as corrupt as our politicians. They say its the dollar or fuel prices. But when both come down they never revise their prices. General commodities are getting expensive by the day. I’ve never seen this in my whole lifetime.
Why do you call them automakers? They are just assemblers.
Car Corolla alltid 1:8 cc
Loot mar programme
These auto assemblers are looting the Pakistanis and no one is bother to take notice especially the ministry of commerce and production in order to halt these illigimate price hiking and to compel them to bring down the per unit production cost by calculating the item wise imported and local manufacture costs and accordingly fix the per unit price.These baboos are either recieving their share or lack of understanding to calculate per unit production unit cost inclusive of all expenses.The alternate solution is to Boycott the prodict of big 3.